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The savings debate has not always been well-informed, and it’s good that the government has put together a well qualified group to advise it. The last official inquiry was part of the 2001 McLeod Tax Review. Read more
A goal is not a strategy concludes that New Zealand needs to focus on the internationalisation of high value, differentiated export sectors, prioritise labour productivity improvement efforts on these sectors, and reallocate resources from low to high productivity sectors.
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The Business Roundtable does not propose to individually address each of the 204 questions presented in the Discussion Paper but instead address five key issues arising from it. These include: The public policy framework for evaluating New Zealand's securities laws; the scope of the securities laws; the substantive duties of disclosure; the standards of liability under the securities laws; and the securities law reform process. Read more
John Maynard Keynes once wrote: “There is no harm in being sometimes wrong – especially if one is promptly found out.” Unfortunately for the world, the problems with Keynes’ ideas were not discovered promptly, and the lessons were too soon forgotten as Keynesian thinking enjoyed a revival with the recent global financial crisis and subsequent recession. At the time of the Great Depression in the 1930s, Keynes advocated fiscal stimulus – higher government spending or tax reductions – to boost total spending in the economy and put the unemployed back into jobs. Read more
In recent years Statistics NZ has done an excellent job of shedding light on the productivity performance of the economy. It made a further contribution with a release last month of productivity statistics at the industry level for the years 1978-2008. Read more
A few weeks ago I decided to look out for examples of economic fallacies that routinely appear in our media. It didn’t take long to make a list. Read more
The annual budget is the main statement of the government’s overall economic and social programme. So in the first instance it needs to be evaluated in terms of the government’s own goals. Read more
In our view issues relating to Part 6A of the Employment Relations Act need to be seen in the context of the government’s overriding goal of lifting average New Zealand incomes to Australian levels by 2025. As the minister of labour notes in the foreword to the Discussion Document, “The Government aims to put employment relations on sound and solid footings so that New Zealand can focus on building more productive businesses and higher wages.” To achieve that goal, major improvements in labour productivity growth are required, given the slump in productivity growth resulting in large part from ill-conceived policies of the previous government. Read more
This submission on the Ministry of Economic Development discussion document Cartel Criminalisation is made by the New Zealand Business Roundtable, an organisation comprising primarily chief executives of major business firms. The purpose of the organisation is to contribute to the development of sound public policies that reflect overall national interests. Read more
Stand on the shoulders of science identifies opportunities to lift New Zealand’s economic prosperity through improving performance of the innovation ecosystem. Innovation is the key driver of prosperity of advanced economies. Read more